Fair Valuation Issues and the Subprime Mortgage Debacle： Could Generally Accepted Accounting Principles Underlying the Historical Cost Method Have Prevented the Crisis？
Fair Valuation Issues and the Subprime Mortgage Debacle： Could Generally Accepted Accounting Principles Underlying the Historical Cost Method Have Prevented the Crisis？作者机构：Ramapo College of New Jersey N J USA City University of New York NY USA
出 版 物：《Journal of Modern Accounting and Auditing》 (现代会计与审计（英文版）)
年 卷 期：2011年第7卷第11期
页 面：1223-1228页
学科分类：120202[管理学-企业管理（含：财务管理、市场营销、人力资源管理）] 12[管理学] 02[经济学] 0202[经济学-应用经济学] 1202[管理学-工商管理] 1201[管理学-管理科学与工程(可授管理学、工学学位)] 020204[经济学-金融学（含∶保险学）]
主 题：subprime mortgage fair valuation accounting mark-to-market accounting
摘 要：There are three primary methodologies employed to determine real estate value in the appraisal industry： the cost approach, the sales approach and the income approach. The definition of market value is defined as： ＂a type of value, stated as an opinion that includes a set of assumptions concerning the market＂. Unfortunately, untrained and unlicensed appraisers provided opinions using primarily the sales approach or market data approach and virtually ignored the other two methodologies. The ensuing game of ＂Can You Top This＂ resulted in creating an out-of-control real estate market driven by unregulated fiduciaries as appraisers.
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